Musk, speaking via Zoom at Barcelona's Mobile World Congress 2021, added that he foresees up to $10 billion in investments before Starlink reaches positive cash and a whopping $20 to $30 billion over the project's lifetime.
'It's a lot, basically,' Musk said in a video interview from California, who also noted that the main goal of this project is to 'not bankrupt.'
Currently, the service has 69,420 active users.
Starlink now has more than 1,500 satellites aloft and expects service to go global by August, Musk said.
'You can think of Starlink as filling in the gaps between 5G and fiber,' added Musk, 'really getting to the most difficult to reach three or five percent' of people in need of high-speed broadband internet.
Musk also gave updates on the service, noting Starlink satellites are at around 300 miles (500km) above the surface, while geosynchronous satellites are at about 621 miles (1,000 km).
Geosynchronous satellites have an orbital period that matches Earth's rotation point and take 24 hours to complete a rotation around our planet.
These satellites mostly beam signals down for cable television, but NASA has its own that sends communications and data between spacecraft.
Purchasing a Starlink Kit costs customers about $500, combined with the monthly service of $100, which the billionaire said is 'the same price all over the world.'
The Starlink Kit that includes the 'UFO on a stick' terminal, mounting tripod and WiFi router.